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Nov 15, 2012 4:00pm EST
account. >>> all right. welcome back. we have a hot show for you today. we are getting down to the brass tax on the fiscal cliff tomorrow. president obama and congressional leaders meet face to face with the clock ticking to new year's on the fiscal cliff. for nearly two years, the one plan that has gotten the most support among those outside of washington and even inside has been the simpson/bowles plan. the two, of course, chaired president obama's debt commission. two years ago when the plan was presented, it was all but ignored by those in power. joining me now, the two architects behind the plan, former republican senator alan simpson and former chief of staff for democratic president bill clinton erskine bowles. gentlemen, wonderful to have you on the program. i want to first get to this. have either of you or together both of you been asked to participate in any way in these fiscal cliff negotiations? >> i've talked to most of the members of the white house. i met over the last couple of days with what's called the gang of eight, four republican senators and four democrat se
Nov 14, 2012 4:00pm EST
deal, yes, of course. take a look at the dow, marimar. we moved down right at the open as we learned about the killing of the hamas military official in israel. president obama really dug in his heels on the tax the wealthy rhetoric. he gave no indication at all he was not going to raise rates on the wealthy. that caused another dip in the market. that's the big story of the day. take a look at the major sectors. it's transports on the weak side. it's financials. it's industrials and materials. really, there wasn't an awful lot of places to hide on the day. we're now down 1100 points in the dow jones industrial average since we hit that nearly five-year high. the dow is only up 3%. the s&p is up more, but the dow has been hit with a lot of big losers. take a look. big losers in the technology field. hewlett-packard and intel. big losers in the global industrial names like caterpillar and dupont. maria, back to you. >> all right, bob. thank you so much. don't even think about touching that remote. what a news day. we have a lot more ahead on this busy edition of the "closing b
Nov 12, 2012 4:00pm EST
will still account for ordinary income as if it was capital gains. that's my point. >> right. i agree. >> well, maria, it's an important point. if you think about what president obama it talked about with the buffet ettebuffett rul seen difference between investment income and earned income every day, average income for workers, it's gotten so -- the gap is so big taxes are unfair. he's talking about closing that. i i think we'll see two steps in this process. easy things done quickly and then a much broader effort to try to tackle the deficit over time. i don't think that's going to happen in the next two or three months. over the next six to nine months let's hope something significant is done to tackle the deficit over time but three things have to be on the table. more revenue, medicare, defense, or we'll not make much of a difference. >> we can't leave this conversation without naming the 40%, some people say 49% of the people who pay no income tax. should they pay something? >> well, it's complicated. >> it's complicated. >> they have to do something with sales tax or state taxe
Search Results 0 to 2 of about 3